Outsourcing Accounting? Ask About These 3 Things
Posted by: Brookside Admin
Do you handle the accounting tasks for your own business? Many small business owners start out as their own accountant, not to mention a number of other roles. Eventually, your time becomes too valuable to spend on tasks you aren't truly suited for, however. That means you need to hire an accountant, or, if there's no room for that in the budget, consider outsourcing those tasks.
By outsourcing and working with a qualified CPA, you can avoid potentially disasterous financial missteps, and take advantage of tax saving opportunities, just to name a couple benefits.
If you're ready to outsource accounting for your business, contact us at Brown Kinion and Company in Tulsa, Bixby and Broken Arrow. And consider learning about these important factors to ensure the relationship you form with your new CPA provides everything your growing business needs.
Methods of contact
This is such a simple and fundamental question that it's often overlooked. You've outsourced your accounting department, but how will you stay on top of it and in contact with the CPA in charge of the work? There's an endless list of acceptable communications methods including, phone, email, video chat, and in person meetings. Ask your accountant which is their preference and find one you can both use effectively. Once you have the method of communication decided on, decide how often you need to be in contact. Whether it's weekly, monthly, or another option, your accountant should also be in contact between meetings to alert you of timely events and opportunities.
Areas of expertise
Before hiring any accounting firm, you'll want to ensure they are experts in the areas of accounting that you need most. Even after that assurance, it's a good idea to get a rundown of the areas you should be consulting with your CPA about. There may be some considerations that you'd never know to ask about, but that could allow your accountant to provide additional value. From corporate and individual tax, to retirement and financial planning, there's a wide variety of financial considerations that you should at least get recommendations about from a CPA.
Not only do you want to avoid financial pitfalls, but you also want to find ways to improve the financial health of your business and grow it. Many business owners don't realize that a qualified accountant can help you do just that. Business growth starts with an accurate financial model that's consistently updated. By working with your CPA to fill in actual results, you can easily identify opportunities for growth and further investments. But, it all starts with creating the right foundation and framework.
We offer a variety of services for business owners at Brown Kinion and Company. Contact one of our qualified and experienced CPAs to learn how we can help you.